The purpose of The Robert A. Welch Award in Chemistry is to foster and encourage basic chemical research and to recognize, in a substantial manner, the value of chemical research contributions for the benefit of humankind as set forth in the will of Robert Alonzo Welch. The founder was interested in chemistry, and in its service to both the betterment and the understanding of human life. It is also believed this award will play an important role in aiding and strengthening the other programs of the Foundation.

In accordance with these principles, any person can be considered for the award who has made important chemical research contributions which have a significant, positive influence on humankind. The award is intended to recognize contributions that have not previously been rewarded in a similar manner.

The Scientific Advisory Board will consider whether or not any nominee or nominees are worthy of the award, and will recommend to the Board of Directors not more than three nominees they determine are qualified to receive the award. The Board of Directors will make the final selection.

The Robert A. Welch Award in Chemistry shall be awarded, when justified. The recipient will be required to be present at a ceremony and dinner held in October. The monetary amount of the award is $500,000.